Last August, the European Commission validated the Spanish government’s law that reforms important aspects of tax incentives for investment in audiovisual productions.
The reform allows Spanish and international producers to receive aid in the form of tax deductions in corporate tax; specifically, it means doubling the maximum amount of the tax deduction per film from 10 to 20 million euros and establishing the tax deduction for each episode of a series at a maximum of 10 million euros.
Besides this aid, there is also a considerable increase in the total budget of the program by 340 million euros, which thus goes from 60 to 400 million euros annually, and its duration is extended until December 31, 2026.
These measures strengthen the business structure of Spanish independent production and support private investment, turning it into a great financing tool.